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Your client is 25 years old, and she wants to begin saving for retirement, with the first payment to come one year from now. She
Your client is 25 years old, and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,500 per year, and you advise her to invest it in securities which you expect to provide an average annual return of 8 percent. If she follows your advice, how much money would she have at age 70?
a. | $175,562.47 | |
b. | $2,125,780.90 | |
c. | $7,900,311.22 | |
d. | $2,295,843.37 | |
e. | $267,300.00 |
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